Optus parent SingTel Limited (ASX:SGT) plans to pay up to S$328 million ($249.5 million) to increase its holding in Thai telecom operator AIS.
SingTel on Monday announced that subsidiary SingTel Strategic Investments has arranged to buy an extra 2.05 per cent in AIS.
The deal, which remains subject to regulatory and shareholder approvals, would take the group's total holding to 23.32 per cent.
The purchase will be made at market values, but with a stipulated minimum price of S$300 million and a maximum of S$328 million.
To complement its telecom operations in Singapore and its 100 per cent stake in Optus, SingTel has investments in a group of Asian operators it calls its regional mobile affiliates.
As well as AIS, these affiliates are Bharti Airtel — India's largest mobile operator — the Philippines' Globe Telecom, Bangladesh's BPTL, Indonesia's Telkomsel and Pakistan's Warid Telecom.
SGT shares fell 0.82 per cent on Monday to $2.420.